Failed finance director tells court he can't afford a lawyer

A director of a failed finance company who is accused of misleading investors says he cannot afford a lawyer and will probably have to represent himself at trial after a High Court judge refused to delay his case.

While his trial would be a "relatively complex case for many non-lawyers" the judge said Forsyth's background, skills and experience meant he would be "better qualified than most to deal with the factual issues likely to arise". But the situation was "far from ideal", Justice Katz said.

"I am not prepared to conclude that there is no reasonable prospect of Mr Forsyth having a fair trial if he is not legally represented. In my view there are good prospects in this case that the trial will be able to be conducted in a way that is fair to Mr Forsyth, despite his lack of representation."

The judge said an amicus curiae - a person who assists the court - would be appointed to help Forsyth and the trial would be put back a week until June 24 to give him extra time to prepare.

Dominion Finance and North South Finance

• Dominion Finance Group and North South Finance were sister companies and operating subsidiaries of the NZX-listed Dominion Finance Holdings.

• Both offered property and commercial loans.

• North South went into receivership in July 2010 owing $31 million to 3900 debenture holders, expected to get back 65c to 70c in the dollar.

• DFG went into receivership in September 2008 owing $176.9 million to about 6000 investors, who receivers estimate will recover 10c to 25c in the dollar.